FiscalNote Holdings Delisted from NYSE; Trading Shifts to OTC Markets
Summary
FiscalNote Holdings, Inc. announced its delisting from the New York Stock Exchange due to its stock price falling below $1.00, with trading expected to move to the OTC Markets.
Key Events
-
NYSE Delisting Notice Received
FiscalNote received a notice from the NYSE indicating non-compliance with the continued listing standard, as its 30-trading day average closing price fell below $1.00 per share.
-
Immediate Trading Suspension
Trading of the company's Class A common stock and warrants on the NYSE has been immediately suspended as of March 25, 2026.
-
Trading Shifts to OTC Markets
The Common Stock and Warrants are expected to begin trading on the OTC Markets on March 26, 2026, under the same ticker symbol.
-
Appeal Under Consideration
The company is evaluating its option to appeal the delisting determination to a Committee of the NYSE Board of Directors.
Analysis
The delisting from the New York Stock Exchange is a severe blow to FiscalNote, significantly impacting its visibility, liquidity, and investor confidence. This development follows closely on the heels of the company's 10-K filing on March 24, 2026, which disclosed substantial losses and auditors' doubts about its ability to continue as a going concern. While the company states its business operations and SEC reporting requirements are unaffected, the move to the less regulated OTC Markets typically deters institutional investors and can lead to increased volatility. Although FiscalNote is evaluating an appeal and highlights recent cost reductions and strategic initiatives aimed at achieving positive free cash flow, the delisting underscores the profound financial challenges it faces and adds another layer of risk for shareholders.
At the time of this filing, NOTE was trading at $0.83 on NYSE in the Trade & Services sector, with a market capitalization of approximately $8.3M. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.